Google said in a blog post, "users of Google Maps for Mobile will now benefit from real time incident reports from Waze users." Google added, "this means when Wazers report accidents, construction, road closures and more."

Here is a screen shot from Google Maps for iOS:

So now Google Maps takes into consideration traffic data from human submissions from Waze. Your driving directions will be impacted by this.

Part of this upgrade, Waze also got a bit of an update, obtaining Google Street View and satellite imagery for their Waze Map Editor.